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200301770 <br />(B) "Borrower" is PAUL F F SCHER AND CHERYL J F SCHER, HUSBAND AND WIFE <br />Borrower is the truster under this Security Instrument. <br />(C) "Lender" is BANK OF AMERICA, N.A. <br />Lender is NATIONAL BANKING ASSOCIATION <br />organized and existing under the laws of THE UN I TED STATES OF AMER I CA <br />Lender's address is 21000 NW EVERGREEN PKWY, HILLSBORO, OR 971247121 <br />Lender is the beneficiary under this Security lestrumunt. <br />(D) "Trustee" is LAWYERS TITLE INSURANCE CO. <br />(E) "Note" means the promissory note signed by Borrower and dated FEBRUARY 06, 2003 <br />The Note states that Borrower owes Lender SEVENTY SEVEN THOUSAND SEVEN HUNDRED AND <br />CO/100 Dollars <br />(U.S. $ 77,700,00 ) plus interest. Burrower has promised to pay this debt in regular <br />Periodic Payments and to pay the debt in full not later than MARCH Ol , 2033 <br />(F) "Property" means the property that is described below under the heading "I'ramfur of Rights <br />in the Property." <br />(G) "Loan" means the debt evidenced by the Note, plus interest, any prepayment charges and late <br />charges due under the Note, and all sums due under this Security Instrument, plus interest. <br />(H) "Riders" means all Riders to this Security Instrument that are executed by Borrower. The <br />following Riders are to be executed by Borrower [check box as applicable]: <br />.Adjustable Rate Rider F—] Condominium Rider ® Second Home Rider <br />Balloon Rider Planned Unfit Development Rider F7 1 -4 Family Rider <br />VA Rider 0 Biweekly Payment Rider 0 Other(s) [specify] <br />(1) "Applicable Law" means all controlling applicable federal, state and local statutes, <br />regulations, ordinances and administrative rules and orders (that have the effect of law) as well as <br />all applicable final, nanmppealable judicial opinions. <br />(1) "Community .Association Dues, Fees, and Assessments" means all dues, fees, <br />assessments and other charges that are imposed on Borrower or the Property by a condominium <br />association, homeowners association or similar organization. <br />(K) "Electronic Funds Transfer" means any transfer of funds, other than a transaction <br />originated by check, draft, or similar paper instrument, which is initiated through an electronic <br />terminal, telephonic instrument, computer, or magnetic tape so as to order, instruct, or authorize <br />DD <br />=3- BINE)(...i.oz 1— x o1 ie Form 3028 1/01 <br />CVNE 02/05/09 6:42 A 6666842270 <br />